H.R. 5272 — Introduced in House

I 116th CONGRESS 1st Session H. R. 5272 IN THE HOUSE OF REPRESENTATIVES November 26, 2019Ms. Sánchez (for herself, Mr. Ted Lieu of California, Mr. Lowenthal, Mrs. Torres of California, Ms. Roybal-Allard, Mr. Cox of California, and Mr. Cisneros) introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act to require lenders to refer certain borrowers to a small business development center, and for other purposes. 1. Short title This Act may be cited as the Supporting Entrepreneurs and Economic Development Act or the SEED Act. 2. Small business development center referrals Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended by adding at the end the following new paragraph: (36) Small business development center referrals If a lender determines that a borrower is not eligible for a loan under this subsection, such lender shall refer the borrower to a small business development center. Such referral shall include— (A) the address, phone number, and website (if available) of such center; and (B) a description of the services offered by such center. .